During last few years, there is a significant increase in the demand for the wearable patches. Though, the market for connected wearable patches is in initial stages of development but holds great promise and potential to improve the health of patients at the considerably low cost. Connected patches enable patients and providers to manage, diagnose, and treat patients in a simpler, more convenient, and quick way. Being convenient they are widely used by geriatric population. Technological advancement have been made led to the incorporation of sensor which has increased the accuracy, comfort, and the demonstration in the clinical and non-clinical areas.

Market Dynamics

The global wearable patch market is majorly driven by increasing prevalence of various chronic disease like diabetes, cancer, immunological disease and others. In 2014, according to the by WHO, approximately 422 million people across the globe were suffering from diabetes. Additionally, increasing demand for the better and convenient route of administration for the medication will support the growth of the market. Moreover, increasing awareness among the people, rising per capita income and increased the demand for the better treatment option coupled with increasing government support have boosted the growth of the market during the forecast period. On the other hand, all drugs are not suitable for such mode of route of administration which is the major factors hindering the growth of the market.

Market Classification and Overview

The global wearable patch market is segmented into type, application, end-user, and region.

On the basis of types, the market is segmented into connected and regular.

On the basis of application, the market is segmented into clinical and non-clinical.

Based on the end-user, the market is segmented into hospital & clinics, ambulatory centers, and others.

Regional Overview

Geographically, the global wearable patch market is bifurcated into four regions such as North America, Europe, Asia Pacific (APAC), and Latin America, Middle East & Africa (LAMEA).

North America is expected to hold the major share for the market growth owing to the increasing demand for various medication and increasing prevalence of the various diseases in this region. Additionally, well developed technology and huge government support has supported the growth of the market. Europe accounts for the second leading position in the market followed by Asia Pacific. Asia Pacific is estimated to be the fastest growing region during the forecast period owing to presence of emerging economies, increasing government support, and rising per capita income of the people. China and India are the major contributor for the market. On the other hand, LAMEA is expected to witness the steady growth owing to the poor economic condition and limited government support.

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